Latest news with #WellsFargo
Yahoo
4 hours ago
- Business
- Yahoo
Jim Cramer Says Meta is a 'Fantastic Company'
Meta Platforms, Inc. (NASDAQ:META) is one of the stocks Jim Cramer weighed in on. A caller asked if Cramer thinks the stock is a buy, sell, or hold for the long term, and he remarked: 'Yeah, absolutely. I love the fact that it came in. I want stocks to go down a little so we can prevent the kind of situation that we got with BlackRock and present the kind of situation we got with Wells Fargo. Meta's coming in a little. That is great. The stock is very inexpensive when you back out the cash. Very inexpensive, by the way, if… [it] ever decide to try, I don't know, billing for WhatsApp. It is a fantastic company, and I'm glad you brought it up to me.' Meta (NASDAQ:META) develops technologies and applications that enable people to connect and share through social media, messaging, and immersive experiences. The company's products include platforms like Facebook, Instagram, WhatsApp, and virtual and augmented reality tools. While we acknowledge the potential of META as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Jim Cramer Notes Wells Fargo Shocked Wall Street With Miss
Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer weighed in on. Cramer discussed that the firm wants to 'be a growth bank again,' and commented: 'Worse, no amount of cologne could cover up the stench of the steaming Wells Fargo today, another relatively strong bank that's coming into earnings. After years of being restricted… in what it wanted to do because of the Federal Reserve due to previous scandals, Wells is finally ready to play offense, but it sure didn't tell the Street about the sudden shakeup in the mosaic with the bank's earnings. All people could focus on was how they missed so badly in net interest income, even though they weren't even focused on it anymore, which is something that goes away if you get more aggressive, and they're getting more aggressive to attract depositors, make loans. A team of bankers in suits, discussing the success of the company's banking products. Wells Fargo (NYSE:WFC) provides a broad range of financial services, including banking, lending, investment, and wealth management solutions for individuals, businesses, and institutional clients. While we acknowledge the potential of WFC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 hours ago
- Business
- Yahoo
Kinder Morgan price target raised to $28 from $27 at Scotiabank
Scotiabank analyst Brandon Bingham raised the firm's price target on Kinder Morgan (KMI) to $28 from $27 and keeps a Sector Perform rating on the shares. While the company's recently reported consolidated adjusted EBITDA was in-line, Products and CO2 underperformed expectations while Natural Gas and Terminals exceeded expectations, the analyst tells investors. Scotiabank believes Haynesville is first set to meet the LNG ramp, but notes it expects more muted volume profits through 2H25 into 2026. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on KMI: Disclaimer & DisclosureReport an Issue Kinder Morgan's Earnings Call Highlights Growth and Optimism Kinder Morgan price target raised to $34 from $33 at Wells Fargo Kinder Morgan's Strong Financial Position and Growth Potential Drive Buy Rating Kinder Morgan's Strategic Expansions and Project Backlog Boost Buy Rating Kinder Morgan Reports Strong Q2 2025 Earnings Growth Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
Wells Fargo & Company (WFC): People Need To Look Beyond The Surface, Asserts Jim Cramer
We recently published . Wells Fargo & Company (NYSE:WFC) is one of the stocks Jim Cramer recently discussed. Banking giant Wells Fargo & Company (NYSE:WFC)'s shares have seen tailwinds recently as regulators removed restrictions on the bank that were levied after an accounting scandal. In his previous remarks, Cramer has discussed the bank and his CEO and expressed optimism about the direction that Wells Fargo & Company (NYSE:WFC) is heading in. He kept up the optimism after the bank's latest earnings report: 'The Wells is really important. Because there are some things that people don't understand. I spoke to Charlie this morning. Charlie Scharf, CEO. The issue with Wells is that they are actually transitioning to a bank that's going to lend a lot more than just look for net interest income. And in order to be able to reposition themselves like that, you're gonna see a drop in NII but they haven't been able to lend the way they would like to, they haven't been able to use capital they would want to. Now did he communicate this well enough? You know Charlie is, Charlie just says listen why don't you just read it and figure it. out. I like Charlie very much but I think people are not gonna do that. They're gonna say, oh, net interest income down, they're not gonna listen what Charlie's really saying which is the bank's back. We are a lending bank, we are a trading bank. We are an investment bank. And we're gonna use the money. We're not gonna just have the money sitting there please Wall Street. I say amen, buy the stock. A team of bankers in suits, discussing the success of the company's banking products. 'He struggles to say that that the things are stronger. That the people, that it's not weaker at all. I'm glad you mentioned best bank. Remember this guy's in a difficult transition. In the sense that he just got this cap lifted of what he can do. So he's focused on playing offense. Now the street wants defense. The street wants you to sit there and make money on the interest curve. And he's saying, no, we're not gonna do that. We've been waiting for the cap to end. Now we're going to charge. Now let the stock come down if you want to I mean. Stock's been the best performing. But one of the reason why it's been the best performing is Charlie's reinventing Wells into a machine. Now I think people forget that Wells used to be the premier bank with the highest price-to-earnings multiple. It's also the Warren Buffett bank admittedly, and that's no longer the case. But I'm thrilled with what he's doing, it's a very large position for our charitable trust and I just can't wait to buy more. While we acknowledge the potential of WFC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Axios
17 hours ago
- Business
- Axios
Beef prices keep going up, and there's no end in sight
Beef prices are at record highs, and industry experts tell Axios they could stay that way into 2026 and beyond. Why it matters: Meat's high price tag is squeezing grocery budgets at the height of grilling season, and as President Trump's tariffs creep into the inflation data. These prices "are just the tip of the iceberg," Patrick Montgomery, CEO and cofounder of Missouri-based KC Cattle Company, told Axios. "Prices for beef will continue to be tumultuous for the next two to four years." CPI shows rise in ground beef, steak prices By the numbers: Ground beef averaged $6.12 a pound in June, up nearly 12% from a year ago, according to new federal data released Tuesday. Steak prices jumped 8% year-over-year, per the latest Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics. It's the first time that ground beef has been above $6 since CPI data collection began in the 1980s, per the Joint Economic Committee's minority arm. It's a heavy price pressure for the second-most consumed meat in the U.S., according to USDA data released Thursday. The average American is expected to consume 59.1 pounds of beef in 2025 — compared with 102.5 pounds of chicken and 50.3 pounds of pork, per the data. What's behind the high price of meat The big picture: America's beef supply chain is being strained from multiple angles: climate, policy and economics. A multi-year drought shrunk cattle herds, and global imports are under threat — but consumer demand remains strong. "We're dealing with lower supplies of beef, and that's what's really driving up our prices of beef right now," Courtney Schmidt, sector manager at Wells Fargo's Agri-Food Institute, tells Axios, noting that it is taking a long time for herds to recover from the 2021-2022 drought. The number of farms in the U.S., including ranches, declined by 7% or 141,733 between 2017 and 2022, according to the latest USDA Census of Agriculture report, published in February 2024. The American Farm Bureau Federation cites high production expenses and foreign competition as two reasons for the closings. Zoom in: In May, the U.S. suspended live cattle imports from Mexico because of the New World Screwworm, a parasitic flesh-eating maggot. Andrew Coppin, CEO and co-founder of Ranchbot, tells Axios the temporary banning of the import of Mexican cattle added to this price pressure. "What we are experiencing as a country is a trifecta resulting in the perfect storm for record high beef prices," Montgomery told Axios. Trump's new 50% Brazil tariff, more imported beef Zoom out: With lower supplies in the U.S., Wells Fargo's Schmidt says there has been an increase in beef imports. "Those higher imports of beef have not been enough to offset the lower supply that we're having in the U.S. but that is helping with some of our prices," Schmidt said, adding that imported beef is primarily coming from Australia, Brazil and some from New Zealand. Yes, but: A new 50% U.S. tariff on Brazilian imports starting Aug. 1 could further disrupt global supply chains. Brazil accounts for around 23% of all U.S. beef imports. Brazilian meatpackers are reconsidering future beef shipments to the U.S. because of the tariff, Reuters reported Tuesday. Walmart opens its first beef facility The intrigue: Walmart, the world's largest retailer, opened its first-ever owned and case-ready beef facility in Olathe, Kansas, last month — part of a multiyear push to gain more control over the meat supply chain. Beef from the new 300,000-square-foot facility will be sold at Walmart stores in the Midwest region as part of a commitment to American-made products, the company said. Walmart hasn't disclosed what percentage of its total beef supply this facility will serve, but told Axios the Midwest region represents more than 600 stores across 14 stores. The retailer said the new facility increases "needed capacity in the beef industry and allows Walmart greater control in offering high-quality items for its customers while keeping up with customer demand."
